First City Capital Management Inc. Sells 1,325 Shares of Sealed Air Co. (NYSE:SEE)

First City Capital Management Inc. cut its stake in Sealed Air Co. (NYSE:SEE) by 9.4% in the second quarter, HoldingsChannel reports. The fund owned 12,770 shares of the industrial products company’s stock after selling 1,325 shares during the period. First City Capital Management Inc.’s holdings in Sealed Air were worth $444,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its position in Sealed Air by 3.7% in the 1st quarter. Vanguard Group Inc. now owns 16,703,769 shares of the industrial products company’s stock valued at $621,380,000 after buying an additional 600,146 shares during the last quarter. Hsbc Holdings PLC increased its position in Sealed Air by 2,549.6% in the fourth quarter. Hsbc Holdings PLC now owns 5,340,247 shares of the industrial products company’s stock worth $195,720,000 after purchasing an additional 5,138,700 shares during the period. Earnest Partners LLC raised its holdings in Sealed Air by 7.3% during the 1st quarter. Earnest Partners LLC now owns 2,500,378 shares of the industrial products company’s stock worth $93,014,000 after purchasing an additional 170,846 shares during the last quarter. Balyasny Asset Management L.P. acquired a new position in Sealed Air during the 4th quarter valued at about $86,410,000. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Sealed Air by 33.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,910,647 shares of the industrial products company’s stock valued at $66,475,000 after purchasing an additional 479,675 shares during the last quarter. 94.40% of the stock is owned by institutional investors.

Sealed Air Trading Down 1.4 %

Shares of Sealed Air stock opened at $35.09 on Friday. The business has a fifty day simple moving average of $34.86 and a two-hundred day simple moving average of $35.40. The company has a debt-to-equity ratio of 6.81, a current ratio of 1.30 and a quick ratio of 0.79. The company has a market capitalization of $5.11 billion, a price-to-earnings ratio of 14.09, a P/E/G ratio of 8.59 and a beta of 1.34. Sealed Air Co. has a 1 year low of $28.50 and a 1 year high of $41.14.

Sealed Air (NYSE:SEE) last released its quarterly earnings results on Thursday, August 8th. The industrial products company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.19. The business had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.31 billion. Sealed Air had a return on equity of 85.65% and a net margin of 6.64%. The firm’s quarterly revenue was down 2.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.80 EPS. Research analysts forecast that Sealed Air Co. will post 2.93 EPS for the current year.

Sealed Air Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 2.28%. The ex-dividend date of this dividend is Friday, September 13th. Sealed Air’s dividend payout ratio (DPR) is 32.13%.

Wall Street Analyst Weigh In

Several analysts have commented on SEE shares. Stifel Nicolaus assumed coverage on shares of Sealed Air in a research report on Tuesday, July 9th. They set a “buy” rating and a $47.00 target price for the company. UBS Group decreased their target price on Sealed Air from $39.00 to $38.00 and set a “neutral” rating for the company in a research note on Wednesday, July 17th. Royal Bank of Canada downgraded shares of Sealed Air from an “outperform” rating to a “sector perform” rating and lowered their price objective for the stock from $43.00 to $40.00 in a research report on Friday, July 19th. Mizuho upgraded Sealed Air from a “neutral” rating to a “buy” rating and boosted their price target for the company from $36.00 to $50.00 in a report on Thursday, June 6th. Finally, Jefferies Financial Group cut shares of Sealed Air from a “buy” rating to a “hold” rating and decreased their price target for the stock from $47.00 to $35.00 in a research note on Friday, August 9th. Eight investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $41.30.

Sealed Air Company Profile

Sealed Air Corporation provides packaging solutions in the Americas, Europe, the Middle East, Africa, Asia, Australia, and New Zealand. It operates through two segments, Food and Protective. The Food segment offers integrated packaging materials and automation equipment solutions to provide food safety, shelf life extension, reduce food waste, automate processes, and optimize total cost for food processors in the fresh red meat, smoked and processed meats, poultry, seafood, plant-based, fluids and liquids and cheese markets under the CRYOVAC, CRYOVAC Grip & Tear, CRYOVAC Darfresh, LIQUIBOX, Simple Steps, and Optidure brands.